EX-12 6 exhibit12.htm STATEMENT RE COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12
Exhibit 12



SOUTHERN CALIFORNIA EDISON COMPANY
 
 
 
 
 
 
 
 
 
RATIOS OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9 Months
12 Months
Earnings:
 
 
 
 
 
 2010
 
2011
 
2012
 
2013
 
2013
 
2014
2014
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Income from continuing operations
 
 
 
 
 
 
 
 
 
 
 
 
before tax and noncontrolling interest
$
1,532

 
 $ 1,745

 
$
1,874

 
 $ 1,279

 
 $ 914

 
 $ 1,466

 $ 1,831

Less: Income from equity investees
-

 
-

 
-

 
-

 
-

 
-

-

Income from continuing operations before income
 
 
 
 
 
 
 
 
 
 
 
 
from equity investees, tax and noncontrolling interest
       1,532

 
     1,745

 
     1,874

 
     1,279

 
        914

 
     1,466

        1,831

Add:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed charges (see below)
492

 
523

 
564

 
580

 
427

 
436

589

Amortization of capitalized interest
2

 
4

 
2

 
3

 
2

 
1

2

Distributed income of equity investees
-

 
-

 
-

 
-

 
-

 
-

-

Loss of equity investees for which charges arising from
 
 
 
 
 
 
 
 
 
 
 
 
guarantees are included in fixed charges
-

 
-

 
-

 
-

 
-

 
-

-

Subtract:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest capitalized
(7
)
 
(4
)
 
(8
)
 
(6
)
 
(4
)
 
(1
)
(3
)
Preference security dividend requirements of
 
 
 
 
 
 
 
 
 
 
 
 
consolidated subsidiaries - pre-tax basis
-

 
-

 
-

 
-

 
-

 
-

-

Noncontrolling interest of subsidiaries that have not incurred
 
 
 
 
 
 
 
 
 
 
fixed charges - pre-tax basis
-

 
-

 
-

 
-

 
-

 
-

-

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings as adjusted
$
2,019

 
$
2,268

 
$
2,432

 
$
1,856

 
$
1,339

 
$
1,902

2,419

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed Charges:
 
 
 
 
 
 
 
 
 
 
 
 
Interest expenses - net of capitalized interest and AFUDC
 
$
429

 
$
463

 
$
499

 
$
523

 
$
384

 
$
402

$
541

Add: AFUDC
43

 
42

 
40

 
          31

 
          24

 
          18

             25

Interest expenses - net of capitalized interest
472

 
505

 
539

 
554

 
408

 
420

566

Interest capitalized (1)
7

 
4

 
8

 
6

 
4

 
1

3

Interest portion of rental expense (2)
13

 
14

 
17

 
20

 
15

 
15

20

Total fixed charges
$
492

 
$
523

 
$
564

 
$
580

 
$
427

 
$
436

$
589

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Ratio
 
 
 
 
 
4.10

 
4.34

 
4.31

 
3.20

 
3.14

 
4.36

4.11

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Includes fixed charges associated with Nuclear Fuel and capitalized interest of 15.8% owned partnership.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(2)
Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals,
 
except for amounts allocated to power purchase contracts that are classified as operating leases.